Alcoa Sells Stake In Ma'aden Joint Venture To Saudi Mining Company
Sunday, 15 September 2024, 09:36
Alcoa's Strategic Move
Alcoa Corp (AA, AAI.AX), a leading aluminum manufacturer, has announced its decision to divest its total ownership interest of 25.1% in the Ma'aden joint venture to a prominent Saudi mining company for an impressive $1.1 billion.
Rationale Behind the Sale
- The divestiture is aimed at optimizing Alcoa's portfolio.
- Strengthening partnerships within the region.
- Focus on core aluminum production.
Alcoa's commitment to re-evaluating its strategic investments underscores its adaptability in a dynamic market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.